DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
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MOL Plc. Annual General Meeting 2013 Documents<br />
Refinery processing (kt) FY 2011 FY 2012 Ch. %<br />
Own produced crude oil 1,027 1,117 9<br />
Imported crude oil 17,168 15,597 (9)<br />
Condensates 276 275 0<br />
Other feedstock 3,331 3,248 (2)<br />
Total refinery throughput 21,802 20,237 (7)<br />
Purchased and sold products 1,193 955 (20)<br />
...while Petrochemicals<br />
went further into the red<br />
Total sales volumes<br />
decreased...<br />
The Petrochemicals segment’s contribution deteriorated<br />
dramatically in 2012, reaching a HUF 30bn operating loss, excluding<br />
special items. Besides further decreased petrochemicals margins - by<br />
6% to 262 EUR/t - high energy prices, lower demand for polymer<br />
products and the general turnaround were the main reasons for this<br />
weak performance.<br />
External refined and petrochemicals<br />
product sales by product (kt)<br />
FY 2011 FY 2012 Ch. %<br />
Total refined products 19,011 17,781 (6)<br />
o/w Motor gasoline 4,211 4,036 (4)<br />
o/w Diesel 9,392 9,065 (3)<br />
o/w Fuel oil 740 332 (55)<br />
o/w Bitumen 1,275 1,015 (20)<br />
o/w Retail segment sales 3,507 3,375 (4)<br />
o/w Motor gasoline 1,183 1,099 (7)<br />
o/w Gas and heating oils 2,231 2,186 (2)<br />
Total Petrochemicals product sales 1,504 1,229 (18)<br />
o/w Olefin products 341 318 (7)<br />
o/w Polymer products 1,163 911 (22)<br />
Total refined and Petrochemicals<br />
product sales 20,515 19,010 (7)<br />
The consumption of motor fuels in the CEE region decreased<br />
further due to the worsening economic outlook which negatively<br />
affected diesel consumption and high price levels which negatively<br />
impacted gasoline consumption in particular.<br />
Changes in regional motor fuel demand<br />
Market *<br />
MOL Group sales**<br />
FY 2012 vs. FY 2011 in %<br />
Gasoline Diesel Motor fuels Gasoline Diesel Motor fuels<br />
Hungary (8.0) (6.1) (6.7) (7.7) (7.3) (7.4)<br />
Slovakia (0.9) (3.6) (2.9) (2.4) 1.0 (0.0)<br />
Croatia (7.2) (5.5) (6.0) (2.0) 4.7 2.6<br />
Other (4.9) (4.2) (4.4) (8.5) (0.9) (3.0)<br />
CEE 10 countries (5.2) (4.4) (4.6) (6.6) (2.0) (3.4)<br />
* Company estimates<br />
** Sales from own refinery production and purchased from external sources<br />
...but Group’s motor fuel<br />
sales performed better than<br />
the market average<br />
Total refined product and petrochemicals sales decreased by 7%<br />
year-on-year partly due to depressed market demand. However the<br />
Group’s motor fuel sales performed better than the market average<br />
driven by increasing sales in Croatia as a result of continuous efforts<br />
in wholesale. Our diesel sales only eroded mildly across the CEE<br />
region. The latter also reflected our yield improvement efforts:<br />
21/94
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